Arabian Drilling Co. · TADAWUL:2381
Arabian Drilling — Q1 2025 Earnings Presentation
17 slides from Arabian Drilling's earnings presentation, 2025
Slide 1: Arabian Drilling
nd ia Drilling Arab
Slide 2: In today's presentation
QI 2025 Earnings Presentation In today’s presentation Ghassan Mirdad Chief Executive Officer With over 25 years of experience in the oil & gas sector, Ghassan brings expertise in drilling, M&A, and operations. A Sloan Fellow, he holds a master’s from London Business School and a chemical engineering
Slide 3: Disclaimer
QI 2025 Earnings Presentation Disclaimer This presentation has been prepared by Arabian Drilling (the “Company” or “AD") based on publicly available information and non-public information to assist you in making a preliminary analysis of the content referenced herein solely for informational purpose
Slide 4: Revenue meets expectations, robust EBITDA margin sustained
QI 2025 Earnings Presentation is Revenue meets expectations, robust EBITDA margin sustained Q1.2025 financial highlights (SAR m, versus Q4 2024) Q z z 9O11.1m 380.9m 41.8 REVENUE EBITDA EBITDA Margin (7.2%) (6.3%) (-0.3% pts) % ® @ 75.2m 361.0m 1.8x NET INCOME Operating CF" NET DEBT / (7.2%) (12.9%)
Slide 5: Enhanced Efficiency and Performance: +1 SESV, high utilization rates, and reduced NPT
Q1 2025 Earnings Presentation Enhanced Efficiency and Performance: +1 SVSE, high utilization rates, and reduced NPT Operational Highlights & +1 Self-Elevating Service Vessel (SESV) da 83.3% UTILIZATION RATE O> 0.95% Non-Productive Time - YTD (NPT) 808 eae Cc 20—00-©3 0.59 60 Total Recordable Inciden
Slide 6: Backlog of SAR 9.5 Bn, Rig Utilization of 83.3%
Q1 2025 Earnings Presentation Backlog of SAR 9.5 Bn Rig Utilization of 83.3% 5-Quarter Backlog by Segment (EoP) Backlog & utilization rate -19.2% -7.2% 11,010 | 10,278 10,267 9,524 Net backlog addition of SAR 170 million on the back of acquiring a new Self Elevating Service Vessel (‘SESV’) with a 2-
Slide 7: Rig contracts rolling off and to be renewed
QI 2025 Earnings Presentation Five less rigs rolling off contract (as of Q1’25 EoP) 19 rig contracts to be renewed (as of Q1’25 EoP) T7Land 2 Offshore Rig Contract Renewal Rig contract renewal in 2025 19 7 2 land rigs on oil LSTK project were successfully renewed for a 1-year extension 2 suspended r
Slide 8: Solid quarter-on-quarter performance
QI 2025 Earnings Presentation Solid quarter-on-quarter performance Quarter on Quarter Performance = Revenue (+7.2%): includes full quarter revenue impact of 3 unconventional land rigs deployed late December 2024 Revenue EBITDA Net Income ; 1 é é and early Q1 2025. It also includes the impact of high
Slide 9: The advantage of being a hybrid drilling contractor
QI 2025 Earnings Presentation The advantage of being a hybrid drilling contractor Total Revenue and EBITDA % 49% 42.2% 41.8% e e e 850 on @ EBITDA% q24 04'24 aes = Enhanced Land Share in Revenue Mix: balancing out the offshore downsize = EBITDA Margin Profile Maintained: continuous resilience of AD'
Slide 10: Net Income Bridging
QI 2025 Earnings Presentation Net Income Bridging Net profit recorded 7.2% increase, mainly supported by strong rig move activity = Rig move margin: above average multiple rig move activity generating higher margin = UC rigs’ margin: all UC rigs now fully deployed in with accretive Q4 ‘24 - Q1‘25 Ne
Slide 11: FY 2024 - Q1 2025 Cash at Hand Bridge
Q1 2025 Earnings Presentation FY 2024 - Q1 2025 Cash at Hand Bridge Efficient management of cash and other short-term assets enables Arabian Drilling to meet its debt obligations in time while having sufficient liquidity. * Non-Cash: a mainly includes 244M of depreciation & amortization = Net workin
Slide 12: A strong balance sheet is a key enabler for fuelling growth
Q1 2025 Earnings Presentation A strong balance sheet is a key enabler for fuelling growth = Net Debt: QoQ increase reflects additional 300M bank loan drawn in QI. Floating 1M SAIBOR + competitive spread. = Leverage ratio: remains moderately leveraged compared to our peers. Room for further growth op
Slide 13: Guidance
Q1 2025 Earnings Presentation In response to the dynamic conditions in the oil and gas industry and the prevailing global macroeconomic uncertainty, the management team has revised the financial guidance strategy to better align with the current market landscape. Here, we outline the changes we've m
Slide 14: Confidentiality notice
This document and the information contained in it are given in confidence and are only to be used by the disclosing party and the receiving party to explore business opportunities relating to Arabian Drilling; they may not be disclosed to third parties or used for any other purpose without the expre
Slide 15: Appendix
A, Appendix Arabian Drilling QI 2025 Earnings Call
Slide 16: Net Income & EBITDA Reconciliation
Q1 2025 Earnings Presentation Net Income & EBITDA Reconciliation In SAR Million Q'24 = Q2'24. ss Q3'24.) «0424S FY'24—s QT'25 Revenue 967 939 863 850 3,619 on Net Income 146 20 85 70 321 75 ADD BACK: Asset impairment charge 105 105 Adjusted Net Income 146 125 85 70 426 75 ADD BACK: Finance costs - n
Slide 17: Glossary
Q1 2025 Earnings Presentation Glossary Glossary Description Active Rig Month Annual number of months where rigs generate revenue Backlog Future contracted revenue yet to be recognized. Book-to-Bill Ratio EBITDA EoP GHG Free Cash Flow HSE IFRS JUs LTIF Rate Calculated as Backlog divided by LTM Revenu